Short Article
20-11-2020 | 14:49 PM
Covid-19 ASEAN Response Fund
- Prime Minister of India cochaired India-ASEAN summit along with the Vietnamese Prime Minister Ngyuyen Xuan Phuc.
- During the summit, India is to contribute 1 million USD to COVID-19 ASEAN Response Fund.
Key highlights:
- The summit reviewed the state of the strategic relationship between India and ASEAN. It centred on main areas such as maritime collaboration, networking, commerce and trade, capacity development and education.
- ASEAN is seen as an influential party, as the ASEAN region has a strong potential for emerging markets.
- The ASEAN summit is taking place in the wake of China's hostile actions in the South China Sea.
Note:
- ASEAN is the fourth largest trading partner of India. India’s overall trade with ASEAN stands at 10.6% of overall trade of the country.